The Daily Update: 23 May

The latest updates from the JSE and NYSE over the past 24 hours.

South Africa

Coronation Fund Managers Limited- Financial Results for the Interim Period ended 31 March 2023

• Revenue decreased by 6% to R1,815 million
• Basic and headline earnings per share decreased by 97% to 6.2 cents per share, primarily due to the impact of a tax ruling by the SCA.
• Due to the impact of the tax ruling, Coronation will not be paying an interim dividend, in accordance with their Dividend Policy, which depends on after-tax cash profits.

Bytes Technology Group plc- Results for the year ended 28 February 2023 and dividend declaration

• Revenue increased by 26.5% to GBP 184.4 million.
• Gross margin percentage decreased to 70.3% from 73.7%.
• Gross profit increased by 20.7% to GBP129.6 million.
• Operating profit increased by 20.6% to GBP 50.9 million.
• EPS increased by 23.0% to 16.88 pence.
• Final dividend declared at 5.1 pence per share, representing a 21.4% increase from the previous year.
• Special dividend declared at 7.5 pence per share, a 21.0% increase from the previous year.

Alexander Forbes Group Holdings Limited- Trading statement for the year ended 31 March 2023

• Basic EPS is expected to be between 55.8 cents and 57.8 cents, representing an increase of between 42% and 47%.

The U.S.

Zoom Earnings

• EPS of $1.16 beating expectations of $0.99.
• Total Revenue of $1.1B beating expectations of $1.08B.

Uber

• Waymo and Uber have announced a new multi-year partnership that will see some of Waymos autonomous vehicle technology join Ubers platform.

Deere

• Deere has filed to raise $36 Billion by selling debt through its subsidiary John Deere Financial.